Lackluster Results Force Yahoo! to Make Changes

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Internet giant Yahoo! announced a major management overhaul Tuesday. The company, whose name was once synonymous with the Web, now lags behind other icons, like Google, in the search and advertising business.


In other business news today, Internet search company Yahoo! has announced its biggest management shakeup in five years. The changes come after a top executive blasted the company for losing its focus. Yahoo!'s stock has fallen more than 30 percent this year. The company's been criticized for becoming too bureaucratic to compete with rivals such as Google.


And in Washington, Securities and Exchange Commission officials told members of the Senate Finance Committee yesterday that their insider trading investigation of a major hedge fund was thorough. Senators are concerned that the regulatory agency went too easy on a top executive.

A former SEC official says the agency stopped him from issuing a subpoena to the CEO of the Wall Street giant Morgan Stanley because of the executive's political connections.

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